Hawkish Fed backed by resilient economic data
US Initial Jobless Claims decreased to 194,000 against an estimate of 200,000. Combined with a growing Producer Price Index and relatively hawkish comments from Fed officials, Mitrade now expects more significant rate hikes to combat inflation.
As a result, the greenback strengthened against most of its peers. EUR/USD fell 21 pips to 1.0668, and GBP/USD lost 33 pips to 1.1993. Australia recorded an 11,500 decrease in employment, as AUD/USD lost 27 pips to 0.6876. USD/CAD climbed 64 pips to 1.3456, and USD/JPY slid 17 pips to 133.94.
Spot gold and WTI oil futures suffered minor losses to close at $1,836.49 an ounce and $78.49 a barrel respectively. Bitcoin lost momentum and dropped to $23,753.0, whereas Ethereum was last traded at $1,658.62.
The Dow Jones Industrial Average plunged 1.26% to 33,696. The S&P 500 declined 57 points to 4,090, and the Nasdaq 100 lost 245 points to 12,442.
As a result, the greenback strengthened against most of its peers. EUR/USD fell 21 pips to 1.0668, and GBP/USD lost 33 pips to 1.1993. Australia recorded an 11,500 decrease in employment, as AUD/USD lost 27 pips to 0.6876. USD/CAD climbed 64 pips to 1.3456, and USD/JPY slid 17 pips to 133.94.
Spot gold and WTI oil futures suffered minor losses to close at $1,836.49 an ounce and $78.49 a barrel respectively. Bitcoin lost momentum and dropped to $23,753.0, whereas Ethereum was last traded at $1,658.62.
The Dow Jones Industrial Average plunged 1.26% to 33,696. The S&P 500 declined 57 points to 4,090, and the Nasdaq 100 lost 245 points to 12,442.
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